Editorials/Opinions Analysis For UPSC 23 July 2022
Contents
- What are EU’s palm oil alternatives with Malaysia and Indonesia?
- Weak insolvency regime?
What Are EU’s Palm Oil Alternatives With Malaysia and Indonesia?
Context
- Indonesia and Malaysia claim the EU’s palm oil restrictions are unfair and “discriminatory,” and they are hoping for a WTO resolution.
- Meanwhile, the EU has imposed new restrictions on the use of palm oil as a fuel.
Relevance
- GS Paper 2: Effect of policies and politics of developed and developing countries on India’s interests
- GS Paper 3: Agricultural Resources, Food Security, Government Policies & Interventions
Mains Question
Palm oil easily accounts for more than two-thirds of India’s burgeoning vegetable oil imports, and the sustainability of the palm oil industry in India faces numerous challenges. Analyse (150 Words)
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Weak Insolvency Regime?
Context
- The Supreme Court recently ruled that Section 7(5) (a) of the Insolvency and Bankruptcy Code (IBC) grants the adjudicating authority, i.e. the National Company Law Tribunal (NCLT), discretionary power to admit an application under the Code by a financial creditor for the initiation of a corporate insolvency resolution process (CIRP).
- With its aforementioned finding, the Apex Court deviated from the long-established view that once the Adjudicating Authority is satisfied that a default has occurred, the application must be admitted unless it is incomplete.
Relevance
GS Paper 3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Mains Question
Analyze the progress made in resolving stressed assets since the passage of the Insolvency and Bankruptcy Code (IBC). (250 words)
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